During the past week, demand in CIS-based billet exporters’ target markets has remained at low levels due to the Christmas and New Year holidays. Before the holidays in question, CIS-based billet exporters had reduced their offers by an average of $5/mt week on week to $405-415/mt FOB. On the other hand, most players in the CIS billet market have not yet returned from holiday due to Orthodox Christmas.
Meanwhile, a few CIS-based traders who are currently active in the market are offering billet to Turkey in the range of $420-430/mt CFR, though SteelOrbis has been informed that demand for ex-CIS billet in Turkey is weak.